AUDUSD Strong Sell
In the trading idea I posted about the continued decline of EURUSD, as I mentioned, the market made a pullback for a subsequent continuation of the downtrend. However, the scenario did not meet my operational metrics, so I ended up trading AUDUSD because it perfectly fit my metrics. I couldn't share the idea because it wasn’t a setup where I opened the AUDUSD chart and it was just there, leaving no time to share the idea. However, I want to share the mindset behind the trade.
AUDUSD: As you can see in the presented chart, the price broke the upward trendline with three strong candles. Considering that the main trend is downward, it was a clear sign of selling strength. When the market returned to the last higher low and rejected it, it was a signal of Smart Money's presence in selling the market. After that rejection, there was a strong continuation of the downtrend movement, creating an institutional order block. I then waited for the market to test the IOF (institutional order block) and opened a sell trade.
AUDUSD: As you can see in the presented chart, the price broke the upward trendline with three strong candles. Considering that the main trend is downward, it was a clear sign of selling strength. When the market returned to the last higher low and rejected it, it was a signal of Smart Money's presence in selling the market. After that rejection, there was a strong continuation of the downtrend movement, creating an institutional order block. I then waited for the market to test the IOF (institutional order block) and opened a sell trade.
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